I am looking to invest with a company called VGMC, however,

Customer Question

I am looking to invest with a company called VGMC, however, I find mixed reports on whether it is a scam or not... I understand any investment has its risk, I would just like to get some sound advice on VGMC and its company practice. To be honest I can find much information about VGMC good or bad. I am willing to pay to find out more on the company before i look at investing on a high level.

One of the forums I found information is as follows, so the company is set up with a registered address etc... But still mixed reviews on the President, and other questionable areas:

and the company is registered in panama, please visit the link i sent previously. This is one of the discussion forums with details on the company, some have already invested some time and money to research virgin gold mining corp.

Also they have a website www.vgmc.com with all the contact details on as well.

As a matter of fact, I had already gone to the link that you provided. JustAnswer cannot verify the legitimacy of any business. However, after reading about the company and the comments that were posted, I am very skeptical. I always find it very suspicious when one individual in a presumably "successful" company holds all the offices in that company - President, Treasurer, and Secretary. He has nobody to report to and nobody to look over his shoulder to maintain that everything is done legally, and that he does not walk off with all the money that investors put into his business.

I also read some of the comments that were posted, and the only one who seems to be thinking rationally and with a level head is an "EdBowers", who calls the company a scam and a "ponzi scheme". I found the comments of most of the others as self-serving, and sounded like they were posted by the "President, Treasurer, and Secretary, all wrapped into one." Sounded more like they were looking for other "investors" from whom they could scam out of their investment money.

I found some comments to be sadly amusing. They were more geared to a "self-promotion" campaign, For example, someone by the name of Mahma has posted several comments, Here is one of them which sounds very self serving,

"They promise to Indonesian investor 0,1 oz(10grm)/100 shares/month. They sell us$1.20/share. What do you think with this charming offer?"

Another individual posting comments goes by the name of "VGMC" and is responding to "EdBowers" by saying,

"Why are you so negative? you were against vgmc but yet you have not even become its shareholder and yet again you are judging it without experiencing. Where else, VGMC shareholder receiving its dividends without fail and without complaint.

I'm sorry to say this, it seems that you are jealous of somebody's success .........."

"Out of your curiosity, I too was skeptical regarding this at first. But now, at least i'm having extra income aside from my salary. I'm just here to share my experience towards vgmc and encouraging potential shareholders to join without obligation.........."

A very interesting comment was that if you trace the company's IP Address, you will find that the address is based somewhere in Florida. And, interestingly enough, if you go to the company's website, they do not list even one gold mine which they have in operation.

An "Investor Alert" has been issued by the Malaysian Securities Commission and a Similar Investor Alert was issued in Singapore.

In your situation, you are located in the United Arab Emeritus and you will be investing your money from there. The company is registered in Panama. Imagine the problems and hurdles you would have to overcome if this person absconded with everyone's money. The distance alone serves as a deterrant to tracking him down and getting him to return your money. If I were in your position, and was looking for a good investment, I would go with a well established company which has a proven track record, and whose shares of stock are traded on one of the major exchanges. At least I would have the comfort of knowing that the Securities and Exchange Commission would be looking over his shoulder,

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